Michael Munger (Political Science, Duke) has written a commentary, Unintended Consequences 1, Good Intentions 0 for “The Library of Economics and Liberty.” A snippet:

BCRA has been a failure even for supporters of spending restrictions, like Rep. Meeks and dozens of other members of Congress. BCRA has achieved three things, all bad:
1. It actually enhances the power of narrowly focused, highly organized and well-funded special interests.
2. It reduces the accountability of those interests by encouraging those groups to disguise their identities.
3. It raises a nearly impenetrable financial force field of protection around incumbents.